Wealthcare Capital Partners LLC Makes New Investment in Chevron Co. (NYSE:CVX)

Wealthcare Capital Partners LLC acquired a new position in Chevron Co. (NYSE:CVX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,690 shares of the oil and gas company’s stock, valued at approximately $534,000.

A number of other large investors have also recently added to or reduced their stakes in CVX. Sound Income Strategies LLC grew its position in Chevron by 15.1% during the 3rd quarter. Sound Income Strategies LLC now owns 7,054 shares of the oil and gas company’s stock worth $1,039,000 after acquiring an additional 928 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its position in shares of Chevron by 14.4% in the 3rd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 439,345 shares of the oil and gas company’s stock valued at $64,702,000 after buying an additional 55,350 shares during the last quarter. High Net Worth Advisory Group LLC raised its position in shares of Chevron by 3.3% during the third quarter. High Net Worth Advisory Group LLC now owns 13,451 shares of the oil and gas company’s stock worth $1,981,000 after acquiring an additional 435 shares during the last quarter. Capricorn Fund Managers Ltd lifted its stake in shares of Chevron by 34.0% in the third quarter. Capricorn Fund Managers Ltd now owns 40,615 shares of the oil and gas company’s stock worth $5,981,000 after acquiring an additional 10,306 shares during the period. Finally, Smith Chas P & Associates PA Cpas boosted its holdings in Chevron by 5.4% in the third quarter. Smith Chas P & Associates PA Cpas now owns 16,175 shares of the oil and gas company’s stock valued at $2,382,000 after acquiring an additional 832 shares during the last quarter. Institutional investors and hedge funds own 72.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Wells Fargo & Company dropped their price target on shares of Chevron from $188.00 to $184.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. UBS Group lowered their price objective on Chevron from $195.00 to $194.00 and set a “buy” rating for the company in a research report on Monday, February 3rd. Barclays decreased their target price on Chevron from $174.00 to $171.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Bank of America assumed coverage on Chevron in a report on Thursday, October 17th. They set a “buy” rating and a $168.00 price target on the stock. Finally, Piper Sandler decreased their price target on shares of Chevron from $184.00 to $173.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $174.13.

Chevron Price Performance

Shares of NYSE CVX opened at $155.76 on Tuesday. The firm has a market cap of $279.91 billion, a P/E ratio of 16.02, a PEG ratio of 1.39 and a beta of 1.11. The company has a quick ratio of 0.80, a current ratio of 1.07 and a debt-to-equity ratio of 0.13. The company has a 50 day moving average of $152.21 and a 200 day moving average of $150.82. Chevron Co. has a twelve month low of $135.37 and a twelve month high of $167.11.

Chevron (NYSE:CVX) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported $2.06 EPS for the quarter, missing the consensus estimate of $2.42 by ($0.36). Chevron had a return on equity of 11.44% and a net margin of 8.71%. During the same period in the previous year, the business posted $3.45 earnings per share. As a group, research analysts expect that Chevron Co. will post 10.84 EPS for the current fiscal year.

Chevron Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Friday, February 14th will be issued a $1.71 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $6.84 dividend on an annualized basis and a dividend yield of 4.39%. This is a boost from Chevron’s previous quarterly dividend of $1.63. Chevron’s dividend payout ratio (DPR) is currently 67.08%.

Insider Buying and Selling at Chevron

In other Chevron news, CEO Michael K. Wirth sold 164,600 shares of Chevron stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $160.13, for a total value of $26,357,398.00. Following the completion of the transaction, the chief executive officer now owns 4,280 shares of the company’s stock, valued at approximately $685,356.40. The trade was a 97.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.20% of the stock is owned by corporate insiders.

Chevron Company Profile

Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The company operates in two segments, Upstream and Downstream. The Upstream segment is involved in the exploration, development, production, and transportation of crude oil and natural gas; processing, liquefaction, transportation, and regasification of liquefied natural gas; transportation of crude oil through pipelines; transportation, storage, and marketing of natural gas; and carbon capture and storage, as well as a gas-to-liquids plant.